39 Cannabis Stocks Analyzed – Growth, Margins, & Leverage

Updated 04/05/21.

This analysis of cannabis stocks is updated (roughly) quarterly. The information and analysis are continuously being tweaked – so check back regularly.

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Financial info is pulled from Yahoo! Finance. No guarantee of accuracy is made.

What cannabis stocks are analyzed?

PriceFinancial Info DatedCurrencyTickerCompany Name
$9.0312/31/20USDACBAurora Cannabis Inc.
$3.0512/31/20USDACRDFAcreage Holdings, Inc.
$18.0311/30/20USDAPHAAphria Inc.
$30.5212/31/20USDAYRWFAyr Wellness Inc.
$0.919/30/20USDCANNGeneral Cannabis Corp
$6.5212/31/20USDCCHWFColumbia Care Inc.
$31.8512/31/20USDCGCCanopy Growth Corporation
$0.7612/31/18USDCNTTQCannTrust Holdings Inc.
$1.9512/31/20USDCRBPCorbus Pharmaceuticals Holdings, Inc.
$13.4012/31/20USDCRLBFCresco Labs Inc.
$9.3212/31/20USDCRONCronos Group Inc.
$15.2312/31/20USDCURLFCuraleaf Holdings, Inc.
$4.6512/31/20USDCWBHFCharlotte’s Web Holdings, Inc.
$0.239/30/20USDEMHTFEmerald Health Therapeutics, Inc.
$0.9010/31/20USDFFLWFFire & Flower Holdings Corp.
$0.2012/31/20USDFUAPFGlobal Cannabis Applications Corp.
$48.4812/31/20USDGRWGGrowGeneration Corp.
$30.2912/31/20USDGTBIFGreen Thumb Industries Inc.
$217.8012/31/20USDGWPHGW Pharmaceuticals plc
$6.411/31/21USDHEXOHEXO Corp.
$0.6510/31/20USDHITIFHigh Tide Inc.
$6.939/30/20USDJUSHFJushi Holdings Inc.
$1.3611/30/20USDKSHBKushCo Holdings, Inc.
$0.3912/31/20USDMMNFFMedMen Enterprises Inc.
$2.7812/31/20USDNBEVNewAge, Inc.
$3.4311/30/20USDOGIOrganiGram Holdings Inc.
$6.379/30/20USDPLNHFPlanet 13 Holdings Inc.
$2.2012/31/20USDSHWZMedicine Man Technologies, Inc.
$1.0712/31/20CADSNDLSundial Growers Inc.
$0.2112/31/20USDSPRWFThe Supreme Cannabis Company, Inc.
$45.9312/31/20USDTCNNFTrulieve Cannabis Corp.
$0.2512/31/20USDTGODFThe Green Organic Dutchman Holdings Ltd.
$21.9612/31/20USDTLRYTilray, Inc.
$10.5012/31/20USDTRSSFTerrAscend Corp.
$0.3212/31/20USDTRTCTerra Tech Corp.
$2.3911/30/20USDVLNCFThe Valens Company Inc.
$2.609/30/20USDVREOFVireo Health International, Inc.
$0.109/30/20USDZBISFZenabis Global Inc.
$4.6612/31/20USDZYNEZynerba Pharmaceuticals, Inc.
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All dollar amounts will be in thousands, Note those cannabis stocks with dated financials and currencies other than USD.

Village Farms International, Inc. (VFF) not included due to cannabis only comprising approximately 15% of revenue

Pick the best cannabis stocks with revenue analysis

TickerCompany NameQuarterly Rev Curr QtrQuarterly Rev Growth Q/QAnnual Rev Curr YearAnnual Rev Growth Y/Y
ACBAurora Cannabis…67,673-0.2%278,90612.5%
ACRDFAcreage Holding…31,506-0.7%114,54554.6%
APHAAphria Inc.160,53210.9%542,239128.7%
AYRWFAyr Wellness In…47,7655.0%155,114106.3%
CANNGeneral Cannabi…1,586-8.6%3,666-20.6%
CCHWFColumbia Care I…76,06456.2%179,503131.7%
CGCCanopy Growth C…152,52812.8%398,77276.2%
CNTTQCannTrust Holdi…?45,645120.5%
CRBPCorbus Pharmace…658-46.5%3,937-89.1%
CRLBFCresco Labs Inc…170,84314.7%476,251270.5%
CRONCronos Group In…17,04650.1%46,71996.7%
CURLFCuraleaf Holdin…230,25326.2%626,637183.5%
CWBHFCharlotte’s Web…26,9277.0%95,2260.7%
EMHTFEmerald Health …3,37336.0%20,319943.1%
FFLWFFire & Flower H…33,11915.8%51,106100.0%
FUAPFGlobal Cannabis…0100.0%0100.0%
GRWGGrowGeneration …61,92512.6%193,365143.4%
GTBIFGreen Thumb Ind…177,22712.8%556,573157.2%
GWPHGW Pharmaceutic…148,2228.1%527,20569.3%
HEXOHEXO Corp.32,88011.6%80,78469.9%
HITIFHigh Tide Inc.26,83015.6%83,265166.1%
JUSHFJushi Holdings …24,91366.8%10,229100.0%
KSHBKushCo Holdings…26,7611.1%113,837-23.6%
MMNFFMedMen Enterpri…33,776-5.2%157,11220.9%
NBEVNewAge, Inc.90,42244.2%279,47110.2%
OGIOrganiGram Hold…19,331-5.2%86,7957.9%
PLNHFPlanet 13 Holdi…22,797111.8%63,595200.4%
SHWZMedicine Man Te…7,9436.9%24,00193.5%
SNDLSundial Growers…13,8537.7%60,918-19.7%
SPRWFThe Supreme Can…18,31154.3%39,749-5.0%
TCNNFTrulieve Cannab…168,43720.9%521,533106.3%
TGODFThe Green Organ…9,26489.9%21,49596.2%
TLRYTilray, Inc.56,56010.0%210,48226.1%
TRSSFTerrAscend Corp…65,32228.2%198,318133.7%
TRTCTerra Tech Corp…4,48146.8%14,287-49.1%
VLNCFThe Valens Comp…16,043-11.5%83,77844.2%
VREOFVireo Health In…11,94311.0%29,956100.0%
ZBISFZenabis Global …23,722-13.3%66,505102.8%
ZYNEZynerba Pharmac…0100.0%0100.0%
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Cannabis stocks are attractive, in part, because of their growth potential. Analyzing revenue growth helps you to identify those cannabis stocks that have the most potential. Compare your favorite cannabis stock with the competition. Coupled with the margin and leverage analysis, you can decide which cannabis stocks you’d like to research further.

Learn more about analyzing revenue growth here.

cannabis stock revenue growth april 2021

Quarterly Revenue Growth Q/Q compares quarterly revenue to the previous quarter. For example, Q2 is compared to Q1.

Annual Revenue Growth Y/Y compares the recently reported fiscal year’s revenue to the previous fiscal year.

How are the margins for your favorite cannabis stocks?

TickerCompany NameGross Profit Curr YearGross MarginOperating Profit Curr YearOperating MarginNet Profit Curr YearNet Margin
ACBAurora Cannabis…-33,539-12.0%-486,885-174.6%-3,283,671-1177.3%
ACRDFAcreage Holding…49,15842.9%-143,069-124.9%-286,588-250.2%
APHAAphria Inc.190,97535.2%2,6770.5%-84,634-15.6%
AYRWFAyr Wellness In…103,10166.5%19,62912.7%-176,333-113.7%
CANNGeneral Cannabi…1,19932.7%-8,862-241.7%-14,804-403.8%
CCHWFColumbia Care I…65,97736.8%-74,097-41.3%-110,776-61.7%
CGCCanopy Growth C…-31,684-7.9%-1,024,857-257.0%-1,321,326-331.3%
CNTTQCannTrust Holdi…36,49379.9%-8,817-19.3%-13,554-29.7%
CRBPCorbus Pharmace…?0.0%-122,810-3119.4%-111,269-2826.2%
CRLBFCresco Labs Inc…283,94059.6%55,84111.7%-81,925-17.2%
CRONCronos Group In…-25,833-55.3%-179,347-383.9%-73,137-156.5%
CURLFCuraleaf Holdin…390,51362.3%63,68410.2%-61,735-9.9%
CWBHFCharlotte’s Web…52,25554.9%-52,470-55.1%-47,186-49.6%
EMHTFEmerald Health …-14,469-71.2%-51,012-251.1%-111,141-547.0%
FFLWFFire & Flower H…18,60836.4%-24,084-47.1%-32,594-63.8%
FUAPFGlobal Cannabis…00.0%-1,3060.0%-1,665-100.0%
GRWGGrowGeneration …51,04826.4%8,4384.4%5,3282.8%
GTBIFGreen Thumb Ind…304,16954.7%106,10719.1%14,9932.7%
GWPHGW Pharmaceutic…489,67492.9%-51,765-9.8%-558,128-105.9%
HEXOHEXO Corp.-57,975-71.8%-163,682-202.6%-546,489-676.5%
HITIFHigh Tide Inc.30,81237.0%1,3731.6%-6,354-7.6%
JUSHFJushi Holdings …4,82347.2%-30,672-299.9%-30,611-299.3%
KSHBKushCo Holdings…7,5726.7%-63,742-56.0%-77,656-68.2%
MMNFFMedMen Enterpri…58,12137.0%-192,749-122.7%-247,264-157.4%
NBEVNewAge, Inc.177,48963.5%-30,112-10.8%-39,344-14.1%
OGIOrganiGram Hold…-56,490-65.1%-97,856-112.7%-136,157-156.9%
PLNHFPlanet 13 Holdi…35,97556.6%1,4982.4%-6,658-10.5%
SHWZMedicine Man Te…6,77428.2%-22,903-95.4%-19,417-80.9%
SNDLSundial Growers…-49,869-81.9%-97,272-159.7%-239,683-393.5%
SPRWFThe Supreme Can…5,48013.8%-62,124-156.3%-139,720-351.5%
TCNNFTrulieve Cannab…386,41874.1%218,36741.9%62,99912.1%
TGODFThe Green Organ…6,11428.4%-41,864-194.8%-182,541-849.2%
TLRYTilray, Inc.24,65511.7%-132,176-62.8%-271,073-128.8%
TRSSFTerrAscend Corp…145,19173.2%59,70530.1%-155,123-78.2%
TRTCTerra Tech Corp…3,60025.2%-21,002-147.0%-30,117-210.8%
VLNCFThe Valens Comp…25,72430.7%-20,100-24.0%-20,682-24.7%
VREOFVireo Health In…10,84136.2%-19,066-63.6%-57,010-190.3%
ZBISFZenabis Global …46,36369.7%-30,756-46.2%-125,331-188.5%
ZYNEZynerba Pharmac…00.0%-52,0630.0%-51,337-100.0%
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Cannabis stocks aren’t all profitable. In fact, very few are “in the black.” There are a few, though, that are carrying revenue toward the bottom line.

Here’s where you can learn more about margin analysis.

cannabis stock gross, operating, net margins april 2021

Gross Margin = Gross Profit Curr Year ÷ Annual Rev Curr Year. Be wary of cannabis stocks with negative gross margins. It’s one thing to not yet be profitable in a relatively young industry such as this. It’s quite another to not earn enough revenue to cover the cost of bringing your product to market.

Operating Margin = Operating Profit Curr Year ÷ Annual Rev Curr Year. Poor gross margins translate into poor operating (and net) margins. Some of these cannabis companies are young and spending a lot of money to secure market share. That’s understandable. But, beware of cannabis companies that dump money, year after year, into operating expenses and never earn a return on that investment.

Net Margin = Net Profit Curr Year ÷ Annual Rev Curr Year. Ultimately, your cannabis stock should earn ever-increasing profit. That’s the goal, anyways.

Will leverage help your cannabis stock earn more profit?

TickerCompany NameDegree of Operating LeverageInterest Expense Current YearDegree of Financial Leverage
ACBAurora Cannabis…5.177,5380.9
ACRDFAcreage Holding…-0.415,8530.9
APHAAphria Inc.-0.834,376-0.1
AYRWFAyr Wellness In…-1.54,1161.3
CANNGeneral Cannabi…1.12,3650.8
CCHWFColumbia Care I…-0.113,8310.8
CGCCanopy Growth C…1.16,7161.0
CNTTQCannTrust Holdi…-1.64780.9
CRBPCorbus Pharmace…-0.71,0281.0
CRLBFCresco Labs Inc…-1.040,9073.7
CRONCronos Group In…0.61861.0
CURLFCuraleaf Holdin…-1.869,002-12.0
CWBHFCharlotte’s Web…166.91,2601.0
EMHTFEmerald Health …0.001.0
FFLWFFire & Flower H…0.016,4090.6
FUAPFGlobal Cannabis…-0.7311.0
GRWGGrowGeneration …2.1141.0
GTBIFGreen Thumb Ind…-3.118,6671.2
GWPHGW Pharmaceutic…-0.81,1211.0
HEXOHEXO Corp.1.310,0430.9
HITIFHigh Tide Inc.-0.68,000-0.2
JUSHFJushi Holdings …312.33,2530.9
KSHBKushCo Holdings…-1.66,0760.9
MMNFFMedMen Enterpri…-0.649,4870.8
NBEVNewAge, Inc.-3.52,3830.9
OGIOrganiGram Hold…-214.76,0080.9
PLNHFPlanet 13 Holdi…-0.71,3077.8
SHWZMedicine Man Te…0.401.0
SNDLSundial Growers…-3.29,1040.9
SPRWFThe Supreme Can…-650.417,2110.8
TCNNFTrulieve Cannab…-0.220,2371.1
TGODFThe Green Organ…-0.45,8710.9
TLRYTilray, Inc.-1.539,2190.8
TRSSFTerrAscend Corp…-1.514,0911.3
TRTCTerra Tech Corp…0.62,9320.9
VLNCFThe Valens Comp…-7.86851.0
VREOFVireo Health In…135.85,1840.8
ZBISFZenabis Global …-7.212,6580.7
ZYNEZynerba Pharmac…0.501.0
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Leverage can help amplify your cannabis stock’s margins. It can also compound poor management decisions. Leverage comes in two basic flavors – financial and operating.

Here’s where you can find out more about operating leverage.

And, here you can learn more about financial leverage.

cannabis stock operating financial leverage april 2021

Degree of Operating Leverage (DOL) compares changes in Operating Profit to changes in Annual Revenue. For example, if a company has a DOL of 1.3, then a 70% increase in Revenue would be expected to result in a 91% increase in Operating Profit (70% × 1.3). The reverse is also true. A 70% decrease in Revenue would be expected to result in a 91% decrease in Operating Profit (-70% × 1.3)!

Degree of Financial Leverage (DFL) looks at changes in Operating Profit and Interest Expense. For example, if a company has a DFL of 1.3, then a 30% increase in Operating Profit would be expected to result in a 39% increase in Net Profit (30% × 1.3). Again, the reverse is also true. A 30% decrease in Operating Profit would be expected to result in a 39% decrease in Net Profit (-30% × 1.3)!

Here’s where you can find out more about leverage; plus other useful ratios.

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